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Answer:
Jan. 1
Dr Cash $210,000
Cr Bonds Payable $210,000
Dec. 31
Dr Loss on Bond Redemption $4,200
Bonds Payable $210,000
Cr Cash $214,200
Explanation:
Porter Incorporated Journal entries
Jan. 1
Dr Cash $210,000
Cr Bonds Payable $210,000
Dec. 31
Dr Loss on Bond Redemption $4,200
Bonds Payable $210,000
Cr Cash $214,200
(102%×$210,000=$214,200)
Answer:
He has to deposit $750.46 every month into the account
Explanation:
Future value id the accumulated amount of principal and compounded interest at the end of a specific investment period.
Assuming interest is compounding every month, use following formula to calculate the amount of payment each month.
FV = PV x ( 1 + r )^n + A x ( ( 1 + r )^n - 1 ) / r
$57,000 = $10,000 x (1+0.1%)^5x12 + A x ( ( 1+0.1% )^5x12 -1 ) / 0.1%
A = { $57,000 - [ $10,000 x ( 1 + 0.001 )^60 ] } / [ ( ( 1 + 0.001 )^60 )-1 / 0.001 ]
A = ( $57,000 - $10,618.05 ) / 61.80471
A = $46,381.95 / 61.80471
A = $750.46
Answer:
Common market.
Explanation:
In order to spur trade, Cormoran, Brithea, and Asmakush decided on economic integration where there were no barriers to trade between the three countries, they agreed on a common external trade policy, and allowed factors of production to move freely between the three countries. In short, the three countries formed a common market.
A common market can be defined as a formal agreement between a group of countries in which they adopt a common external tariff on products imported from countries outside the union. It is simply a type of market involving the formal organization of countries who have collectively agree to trade freely with one another with eliminated internal tariffs but imposes a common external tariff on trade with other countries.
Common market was founded in 1958 and was made up of countries like Luxembourg, France, Belgium, Netherlands, West Germany and Italy.
The main purpose and advantage of the common market is that, it avails member countries the opportunity to move goods, people, services and capital freely.
